SavedPlus Inc

wealthtech-retailpersonal finance management

FOUNDING YEAR: 2012
LOCATION: United States
Last Update: 01/05/2020

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About

SavedPlus developed an effective automatic savings application designed to help consumers overcome inertia towards saving more money. Our patented, bank platform-agnostic micro-payment capability allows consumers to make automatic contributions to savings accounts every time consumer spends money. It works similar to a sales tax by adding a user selected percentage on top of each qualified users transaction, and then automatically transferring it from their source to their destination savings account. 83M of working Americans fail to prioritize savings over spending, and as a result do not save or contribute to retirement. 52M believe they could easily save $25/week. Our application makes you do it - our clients save on average $350/mo!

MEDICI Analysis

SavedPlus is a savings app that helps consumers build up their savings automatically. Every time consumer make a purchase from their checking account or credit card, SavedPlus additionally transfers a set percentage of that purchase amount from their checking to their savings account. By helping consumers save a little every time they spend, SavedPlus can help them grow their savings.

Focus

PRODUCTS & SERVICES

ACH Processing

REVENUE MODEL

Subscription Based Revenue Model

MAIN CLIENTS

Online retail consumers

EXISTING PARTNERSHIPS

United Way Silicon Valley

People

FOUNDERS

Michael Pastushkov

Paul Sorokin

BOARD MEMBERS AND ADVISORS

David Watterworth

NUMBER OF EMPLOYEES

11-50

INVESTORS:

SeedInvest

Sergey Egorov

Momentum

FUNDED

NO

NUMBER OF FUNDING ROUNDS

1

TOTAL FUNDING

$250 K

DATE OF LAST FUNDING

2013

SEED & PRIOR FUNDING

$250 K

SEED CLOSED ON

Jul 2013

LISTED

NO

Innovation Programs

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